【Ocean Park】 The new chairman must have a comprehensive plan

01 point of view

Written by: Review Editor Room

2020-05-16 08:00

The Ocean Park, which has fallen into financial difficulties, can be said to be in the autumn of life and death. The Legislative Council Finance Committee will consider the government's 5.4 billion grant application on Friday (15th) and plan to let the park repay the loan and maintain its operation for one year. However, as to how to get rid of financial difficulties in the future, the park still has no clear plan. Even Chairman Kong Lingcheng and Chief Executive Li Shengzong will leave their posts in June and July. The management team of the Ocean Park in the new year is unknown, and the governance policy is unknown. Liu Mingwei, the vice chairman of the board of directors who is regarded as a candidate for the future president, is the key to the future development of Ocean Park.

The government has applied to the Finance Committee of the Legislative Council for an allocation of 5.4 billion yuan for Ocean Park ’s operating expenses and loan repayment in the next 12 months. (Profile picture)

Where is the chairman's enthusiasm?

The 39-year-old Liu Mingwei is the eldest son of Hong Kong businessman Liu Luanxiong. He is currently the chairman of the board of directors of Hong Kong Chinese Real Estate. Since 2008, he has joined the board of directors of Ocean Park Corporation. In July 2014, he became vice chairman of the board of directors of Ocean Park. Liu Mingwei's past remarks have attracted social attention from time to time, such as watching less movies and going to Japan to save money to buy a building, and received 100,000 cash on his tenth birthday. While Ocean Park has suffered successive losses, it is difficult for Liu Mingwei to be alone.

Management exchange is imminent. Liu Mingwei is regarded by many media as the successor. However, who should take over the post of chairman of the board of directors of Ocean Park. Liu Mingwei said that he will deal with management reorganization depending on the results of the review team. This means that the government's 5.4 billion grant application may be approved at the moment, and the public still cannot know who will take over and what the direction will be. Liu Mingwei only indicated that the park ’s operating costs will be reduced by one-third during the transition period, and there will be no “big move”. For the future positioning, it also means that there are “unlimited possibilities”. Month to rethink. 5.4 billion will be on the agenda, but there is still no concrete plan for how the park will respond to adversity.

The new chairman not only needs the ability to lead Ocean Park out of the predicament, but also the ability to persuade society-Ocean Park is worth 5.4 billion. (Profile picture / photographed by Gao Zhongming)

"Unlimited possibilities" has no plan?

Ocean Park is in financial trouble. The new chairman needs not only the ability to lead Ocean Park out of the predicament, but also the ability to persuade society-Ocean Park is worth 5.4 billion. Both the chairman of the board of directors and the chief executive officer are retiring soon. The new candidate is undecided. As the vice chairman of the board of directors, Liu Mingwei is at the juncture of life and death at Ocean Park. "As a reason to avoid answering the park's future direction.

The future of Ocean Park is undoubtedly full of uncertainty. Even after reducing operating costs, whether the park ’s income can maintain the level of last year is actually not guaranteed. Although as Liu Mingwei said, the future operating costs of the garden can be reduced by 30%, but where can the expenses be reduced? How to balance personnel cost and employee income? Will cost reductions weaken the park's profitability? For all these problems, the management must give a substantive plan to let the public see the park ’s hope of turning over. The reason why society is now resisting appropriation across political opinions is that no one knows whether this is a bottomless pit, and whether the government will need to "fill in the future" indefinitely. Liu Mingwei, the deputy chairman of Ocean Park's "Flushing Water", first needs to rebuild public trust, otherwise the park's 5.4 billion funding will inevitably encounter resistance. Tian Beichen, a member of the Legislative Council, pointed out that if Ocean Park refuses to explain its clear positioning and applies for funding only for repayment, he will definitely not support it.

(Profile picture)

Internal promotion or external recruitment?

The chairman is appointed by the government, and the park is wholly owned by the government. In the past, the management team was not well-managed, and the government must also be held responsible. According to the "Ocean Parks Corporation Ordinance", the chairman of the park ’s board of directors is appointed by the Chief Executive. In the face of a major reshuffle of the management, if Ocean Park can survive this robbery, the future government must also carefully choose the new chairman and not repeat the previous losses Mistakes.

Since Liu Mingwei entered the park management in 2014, when the government reviewed its performance, it naturally could not "separate its seat" from the park's subsequent losses. As a successor, he must ensure that Liu Mingwei has a complete plan for the future development of the park and has the ability to lead Ocean Park out of the predicament. Regardless of whether Liu Mingwei or others take over, if they can only repeat the old policies of the previous years and cannot bring new directions to the park, the government should consider finding another candidate to find talents with successful theme park management experience in the world to enter the management and reverse the ocean. The current dilemma of the park.

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